Strategic dialogue on corporate transformation and capital market development
In a landmark meeting during the New York business program, President Shavkat Mirziyoyev engaged in comprehensive discussions with Jenny Johnson, President and CEO of Franklin Templeton, reinforcing bilateral commitment to fundamentally transform Uzbekistan's corporate governance landscape.
The dialogue centered on expanding strategic cooperation with one of the world's premier investment firms—Franklin Templeton manages assets exceeding $1.6 trillion across more than 100 offices in 30 countries, with a market capitalization surpassing $12 billion.
Joint initiatives driving transformation
The partnership has already yielded tangible results through the establishment of a joint investment fund, currently advancing work on transforming strategic state-owned enterprises and facilitating their access to global capital markets. This collaboration represents a cornerstone of Uzbekistan's ambitious privatization and capital market development agenda.
Key agreements reached during the meeting include expert support for enhancing the capabilities of the Tashkent Stock Exchange, with specific focus on strengthening regulatory independence and transparency, establishing robust investor protection mechanisms, attracting major international custodians, and implementing cutting-edge digital trading platforms.
IPO preparation and operational excellence
Particular emphasis was placed on programs designed to improve efficiency of large state-owned enterprises and prepare them for initial public offerings (IPOs). The transformation strategy encompasses comprehensive human capital development, adoption of "green" economy standards, and measurable enhancement of operational performance.
Franklin Templeton's expertise will be instrumental in modernizing state enterprises, ensuring they meet international corporate governance benchmarks and investor expectations.
Looking ahead: Investor Day 2025
Both parties underscored the critical importance of thorough preparation for Uzbekistan's Investor Day, scheduled for October 2025 in Tashkent. This flagship event will provide international investors with direct access to Uzbekistan's evolving investment landscape and reformed business climate.
Portfolio Investments congratulates the leadership of Uzbekistan and Franklin Templeton on this significant milestone in strategic cooperation. This partnership exemplifies the progressive transformation of Uzbekistan's capital markets and signals robust opportunities for international investors seeking exposure to one of Central Asia's most dynamic emerging economies.
Oʼzbek
Русский